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Lithium is the first member of the alkali metal family. It is the lightest of all the metals and the least dense of all solids. The major use of lithium compounds is in rechargeable and nonrechargeable batteries. It is used in wide range of products, including heatresistant glass, ceramics, and high strength/low weight alloys which are principally utilized in aircraft. Compounds of lithium have also been widely in used in the medical industry to treat bipolar disorder. The Lithium Compounds market is driven by various enduser industries such as liion batteries, glass ceramics and others. The increase in use of portable devices using liion batteries, increasing focus of consumer government agencies towards environmental concerns and converting from fuelburning cars to electrical vehicles are driving the growth of the market.
Lithium compound's global demand could possibly rise to about XX tons by 2021. Lithium Carbonate is one such compound from which lithium is extracted and it has a market of xx tons being produced every year. Lithium chloride is one of the most hygroscopic constituents used in air conditioning, while Lithium stearate is used as an allpurpose and high temperature lubricant. Lithium carbonate is used in drugs to treat manic depression. Lithium hydride is used as a means of storing hydrogen which is used as a fuel.
The market is divided into by derivatives, by application, by end user and by geography. Nonrechargeable batteries include coin or cylindrical batteries used in calculators and digital cameras. Lithium batteries have a higher energy density compared to alkaline batteries and are of low weight. Rechargeable batteries are used in powering cell phones, laptops, other hand held electronic devices and power tools. The advantages of the lithium secondary battery are its higher energy density and lighter weight compared to nickelcadmium and nickelmetal hydride batteries.
AsiaPacific is the global leader in the consumption of lithium compounds, and is expected to dominate in the coming years. China, Japan, and South Korea are the key countries in this region. The AsiaPacific market is expected to grow at the highest CAGR from 2016 to 2021. North America is an emerging market for lithium compounds, due to the increasing demand from enduser industries. This region constitutes the secondlargest market for lithium compounds consumption in 2015.
Some of the major companies include:
Shanghai China Lithium Industrial Co., Ltd. China
Albemarle Corporation U.S.
Sichuan Tianqui lithium China
FMC Corporation U.S.
Jiangxi Ganfeng Lithium Co., Ltd China to name among a few others.
Original Article: Lithium Compounds Market By Type Hydrides, Fluorides, Chlorides, Bromides Others By Application AirConditioning, Glass Ceramics, Batteries, Others By End Users Energy, Chemicals, Aerospace Defence, Automobile, Others By GeographyForecast 20162021 [UpdaNEXT ARTICLE
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